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Nov 6, 2012
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he used the u.n., nato, much more of an internationalist, using the transatlantic institutions, networks that are in place to sort of bring europe back into the fold, firm up the alliance. let's remember romney did make his own campaign trip to europe. it will be remembered mostly by his gaffes in britain and poland, but it's telling that he chose britt tip and poland as places he visited. toes were two members of the bush era, both members who participated in the iraq war, full supporters of that war. is there was worry that the national would be pushed aside. particularly among foreign policy elites here in europe. >> peter, thanks for that. good to speak to you. >> we're also on central bank watch this week and the rba decided to hold off on further easing. this report comes from sydney. >> it was always going to be a call and it has surprised some in the market leaving rates unchanged. aussie dollar hitting session highs above 1.04 u.s. the banks did leave the door open for further stimulus highlighting the strength in the aussie dollar and saying policy is appropriate for the time b
he used the u.n., nato, much more of an internationalist, using the transatlantic institutions, networks that are in place to sort of bring europe back into the fold, firm up the alliance. let's remember romney did make his own campaign trip to europe. it will be remembered mostly by his gaffes in britain and poland, but it's telling that he chose britt tip and poland as places he visited. toes were two members of the bush era, both members who participated in the iraq war, full supporters of...
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Nov 5, 2012
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does it really do us much good. pmi reading sub 50 with qe -- >> is the government going to be outvoted this week? his comments have seen to be pinned more towards more rather than lessor not doing anything. charlie bean came out and said i can't see the point of it. >> one thing this economy isn't suffering from is too much growth. so it's not -- the fls is the weapon of choice right now. >> it's a bit of a struggle to figure out what the message is here for the uk economy. you have the employment set of figures which has been stronger than the gdp figure until the gdp figures showed a rebound in the third quarter which now the composite pmi might be fleeting and it points towards weaker growth ahead. >> you have to strip out all of the noise. for my money, we've been growing at about a quarter percent quarter on quarter so not brilliant, but not a disaster either. i think they will start to cool off here the post owe him tick layoffs and they should cast down in reality, but i've said that the last four or five mo
does it really do us much good. pmi reading sub 50 with qe -- >> is the government going to be outvoted this week? his comments have seen to be pinned more towards more rather than lessor not doing anything. charlie bean came out and said i can't see the point of it. >> one thing this economy isn't suffering from is too much growth. so it's not -- the fls is the weapon of choice right now. >> it's a bit of a struggle to figure out what the message is here for the uk economy....
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Nov 15, 2012
11/12
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eunice has more for us this morning. it sounds like a pretty signature consolidation of power under xi. >> definitely is a consolidation of power. he'll get a very strong mandate as you had mentioned to run this country the way that he wants. he gets the three top titles, the most powerful are party chief, president as well as military commander. that is very significant because it allows him to have more control over his own agenda. when he went to meet the press this morning, he was looking very casual, looking a about folksy. when he was youtd lining the challenges ahead for the nation. >> our party faces many challenges and there are many pressing problems that need to be resolved. the problems among our party members of corruption, taking bribes, being out of touch with the people, undue emphasis on formalities must be addressed with great efforts. the whole party must be vigilant against them. >> the problem is, though, that it's still unclear how he's going to tackle all of those challenges and just how aggressive
eunice has more for us this morning. it sounds like a pretty signature consolidation of power under xi. >> definitely is a consolidation of power. he'll get a very strong mandate as you had mentioned to run this country the way that he wants. he gets the three top titles, the most powerful are party chief, president as well as military commander. that is very significant because it allows him to have more control over his own agenda. when he went to meet the press this morning, he was...
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Nov 9, 2012
11/12
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joining us is stefan. thanks for joining us. how much can we discount hurricane sandy and how much might it be of benefit in terms of helping to harden rates? >> well, as far as it looks now, it's not really an event basically having a big influence on rates. we did have a lot of capital in the reinsurance industry and in that regard, plenty of capacity. so estimated 17 to 20 billion for insurance losses whether not really be enough to have a real impact on pricing. but i think psychologically, it will help to shape rates going forward and especially also next year into july with renewals in the u.s. and worldwide having a small positive impact. but generally the average reinsurance rate environment will not change based on sandy loss only. >> what's your take on the insurers generally speaking, do you like them as group, what are issues they need to face to see share outperformance? >> it will some quite some time to get some decent estimates. there's uncertainties in many regards and clearly estimates my tend upwards from the
joining us is stefan. thanks for joining us. how much can we discount hurricane sandy and how much might it be of benefit in terms of helping to harden rates? >> well, as far as it looks now, it's not really an event basically having a big influence on rates. we did have a lot of capital in the reinsurance industry and in that regard, plenty of capacity. so estimated 17 to 20 billion for insurance losses whether not really be enough to have a real impact on pricing. but i think...
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Nov 22, 2012
11/12
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joining us, chief european economist. ricar ricardo, thanks for joining us. so still a negative territory. what does this point to in terms of the economic decline for the fourth quarter? >> i think it's in line with the idea that real sgchlt dp will decline by at least 0.2%, possibly 0.3%. it will give us a negative entry point in 2013 when i expect an average growth of minus 0.2%. so still moderately recession territory. >> the german flash composite pmi 47.9, services 48, manufacturing 46.8, is germany -- we just saw the 0.2% print. is girl aermany going to have a negative contract? >> i'm looking for a contraction of minus 0.2. so only aed modest one. i expect activity will stabilize in q1 of next year, but obviously that requires a favorable external environment, meaning u.s. not going into this deep due to the fiscal cliff. and also signs of improvement in asia. >> meanwhile the french pmi says the survey there suggests a 0.7% gdp drop in quarter 4 for france. >> that seems quite large. we've seen in recent quarters numbers out of front which were highe
joining us, chief european economist. ricar ricardo, thanks for joining us. so still a negative territory. what does this point to in terms of the economic decline for the fourth quarter? >> i think it's in line with the idea that real sgchlt dp will decline by at least 0.2%, possibly 0.3%. it will give us a negative entry point in 2013 when i expect an average growth of minus 0.2%. so still moderately recession territory. >> the german flash composite pmi 47.9, services 48,...
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Nov 28, 2012
11/12
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thanks for joining us. here's a quick look at what else you've been hearing from some of the experts on our program this morning. >> looking somewhat rich. also cautious on finland where we think there could be some problem next year also regarding rating. >> the sterling i think represents the best and i would avoid the euro like the plague. >> depend on big financial leverage to make money. and those businesses were the customers that were struggling. they have been leveraged on the left-hand side. so that is a fundamentally tricky business. >> now the eu zone to approve the restructuring plans of spanish banks and he says the plan will cost a total of $37 billion euros. he said nationalized banks will reduce their number of branches by up to 50%. this follows a deal for a token price of one euro. he said that plan is cheaper than it would have been to liquidate the bank altogether. fitch has slashed argentina's credit rating by five notches, citing the risk of probable default. this after a u.s. court or
thanks for joining us. here's a quick look at what else you've been hearing from some of the experts on our program this morning. >> looking somewhat rich. also cautious on finland where we think there could be some problem next year also regarding rating. >> the sterling i think represents the best and i would avoid the euro like the plague. >> depend on big financial leverage to make money. and those businesses were the customers that were struggling. they have been...
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Nov 14, 2012
11/12
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eunice is with us in beijing. eunice, as we look from where we are at the moment, do we have any feeling on how many members there will be in that standing committee? the implications of that and the likely makeup? >> so far, we know that it's going to be somewhere between seven and nine. that's the number that people have been throwing out there. there's been a lot of expectation that the number on the standing committee, which is currently at nine, will be trimmed down to seven, which could potentially mean that policy will be easier to push through. some of the other things that people are talking about here is just how incredible it is that this is now the end of an era for the current president as well as the premier, really stepping aside as party chiefs for the next generation of leaders. now, the delegates today had come together and they approved the work report, which is endorsed by the president. >> translator: the most important policies and arrangements and greatest achievements will surely play a cri
eunice is with us in beijing. eunice, as we look from where we are at the moment, do we have any feeling on how many members there will be in that standing committee? the implications of that and the likely makeup? >> so far, we know that it's going to be somewhere between seven and nine. that's the number that people have been throwing out there. there's been a lot of expectation that the number on the standing committee, which is currently at nine, will be trimmed down to seven, which...
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Nov 8, 2012
11/12
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eunice is live for us. this is his big final speech, so reading in sort of between the lines almost is very telling. it's the legacy he's trying to cath. and what less gassy is that? >> many here believe what he is saying is significant in that it is his final farewell. he really was just reading through the work report to talks about the achievements, the economic and political achievements that the party has had. and also to outline the future challenges. one of the first challenges you had already addressed is the issue of corruption. he said the government needed to do more to root it out. >> eunice, we're having trouble with your sound. we'll get the bite rolled as soon as we can. when we hear from -- i'd like to go back to eunice if we can to stay on this issue. but there's been a lot of focus in the last couple of days as to whether china's next leaders will be reformists or conservatives and just what the influence is of some of the older party leaders. so should investors actually be bracing not fo
eunice is live for us. this is his big final speech, so reading in sort of between the lines almost is very telling. it's the legacy he's trying to cath. and what less gassy is that? >> many here believe what he is saying is significant in that it is his final farewell. he really was just reading through the work report to talks about the achievements, the economic and political achievements that the party has had. and also to outline the future challenges. one of the first challenges you...
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Nov 13, 2012
11/12
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justin, thanks for joining us. first of all, this little spat on the two year extension, how much >> of course they're politicians and in jean claude's own words, different circumstances. they have to get reelected. christine lagarde is head of the imf and the imf needs to get the problem sorted out as quickly as possible regardless of political concerns. so you can see which way they're coming from here. as i say, the mnumber 120% is plucked out of the air. there already appears differences over what the current 2020 is, some are saying 14 #%. but reporting that some of the troy came members are saying this, others saying between 140 and 150. of course they do rely on quite a lot of assumptions about gross tax receipts and spending cuts. >> with a matters isn't the 2020 versus 2022 language. what they're implying is whether the official sector has to take. yesterday we heard smaghi say he thinks a maturity extension will happen. so is that going to extend to the official sector and does it have to in your view? >>
justin, thanks for joining us. first of all, this little spat on the two year extension, how much >> of course they're politicians and in jean claude's own words, different circumstances. they have to get reelected. christine lagarde is head of the imf and the imf needs to get the problem sorted out as quickly as possible regardless of political concerns. so you can see which way they're coming from here. as i say, the mnumber 120% is plucked out of the air. there already appears...
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Nov 16, 2012
11/12
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joining us now is martin fletcher following the story for us. martin, good morning. we've heard the violence continuing. what's the latest now? >> israel's complain for the cease fire was that palestinians shoulds also cease fire and that didn't happen. and there's been a flurry of activity this morning with israeli airplane strikes on the targets. so more of the same. 85 separate israeli air strike this is 45 minutes. but at least there was an attempt. and the cease fire is a mission of support, but also to try to encourage hamas to deal with the more longer term cease fire. there is a possibility that the turkish prime minister will also visit gaza. so there are s. a lot of international pressure building up on hamas to agree to a cease-fire mainly because everyone is of a phrase of an israeli ground invasion. all signs are that ez really is really building up its forces. 16,000 soldiers have been summoned to their bases. so israel is making every preparation for an invasion of ground invasion of gaza. doesn't mean it could happen. it could just be a show of force.
joining us now is martin fletcher following the story for us. martin, good morning. we've heard the violence continuing. what's the latest now? >> israel's complain for the cease fire was that palestinians shoulds also cease fire and that didn't happen. and there's been a flurry of activity this morning with israeli airplane strikes on the targets. so more of the same. 85 separate israeli air strike this is 45 minutes. but at least there was an attempt. and the cease fire is a mission of...